Fraud Risk Management

The MetricStream Fraud Risk Management solution enables financial organizations to streamline and standardize the process of capturing, investigating, resolving, and reporting cases. Utilizing the MetricStream technology the solution can cut across enterprise siloes, gathering and consolidating case data in a central repository, while also enhancing cross-functional collaboration on case investigations. Investigative tasks can be quickly assigned along with automated alerts to keep the process on track. At every stage, powerful dashboards and analytics provide in-depth case visibility, enabling you to proactively identify and resolve critical cases.

MetricStream’s solution includes the capability to establish reliable controls and effective risk-based audits to monitor transactions, spot account behavior and prevent fraud. By managing and analyzing large datasets, structured and unstructured, to identify patterns or relationships, the main function of the data mining functionality, these patterns or relationships can be used to understand the behavior of the systems from which the data was collected.

Through MetricStream Infolet Technology the solution has the ability to integrate with a variety of sources including databases that are used as internal and external watch lists. By integrating with a variety of different content sources to bring in information around global sanctions lists, politically exposed people, adverse media, etc.

As part of the implementation process VirtusaPolaris and MetricStream will work together to decide what reference information should be brought into the tool through custom integrations, vs. what should be attached to cases on an ad hoc basis. MetricStream has the ability to attach a variety of files, including, pdf, images, spreadsheets, etc. to the investigations for efficient, streamlined enhanced analysis.

Threat and vulnerability data from numerous security solutions, social and digital media content violating corporate policies and regulations, supply chain incidents spreading virally on the web that damage reputation, and transaction trends indicating a financial fraud or illegal activity can be more easily identified and managed as a result of big data analytics.

Features

Ability to collecting and analyze large and disparate data points enabling reactive discovery of incidents and proactive identification of emerging issues.

Supports organizations to break down siloes, and enhance information-sharing and coordination across financial, compliance, legal, and administrative teams for effective SAR.

Robust data model for efficient data upload and retention, and transaction monitoring.The solution enables you to streamline and standardize the process of capturing, investigating, resolving, and reporting potential fraud cases.

Investigative tasks can be quickly assigned along with automated alerts to keep the process on track.

Includes robust reporting and analytics features, which provide powerful, intuitive dashboards with drill down capabilities for gaining unified and granular insights into the reporting process.

Based on the patent pending Agent Based Architecture for Distributed Data Extraction and Delivery, Infolets seamlessly integrate with each other and with data sources to capture relevant information, and load it in the MetricStream repository or route it to the required systems.